The cautious approach of the bank in seeking clarification from the authorities justified its actions and was considered in the court's decision.

JUDGMENT

Sanjeev Sachdeva, J. - CM APPLN. 12364/2020 (Directions)

1. The hearing was conducted through video conferencing.

2. Petitioner has filed the subject petition seeking initiation of contempt proceedings against the respondent-Axis Bank for failing to comply with the judgment dated 14.11.2019 in W.P. (C) No. 9566/2019.

3. By order dated 14.11.2019, this Court had directed that the freeze of the bank account, in exercise of powers under Section 102 of the Prevention of Money Laundering Act, 2002 (in short ''PMLA''), could not be sustained and was quashed. However, it was held that said order would not affect the order dated 07.10.2019 passed by the authority under Section 5 of the PMLA.

4. Petitioner filed the subject petition contending that despite order dated 14.11.2019 quashing the freezing of the bank account, respondent Bank had not permitted the operations of the bank account.

5. Respondent no. 1 to 3 have filed reply to the petition contending that on 19.04.2018, Enforcement Directorate passed an order under 102 of Cr. PC directing 74 bank accounts of petitioner Era Infra Engineering Pvt. Ltd. to be frozen including Bank Account No. 913020056551881, i.e. the account in question. Subsequently, on 08.05.2018, the National Company Law Tribunal, Principal Bench, New Delhi in CP IB No. 190 of 2017 appointed Mr. Rajiv Chakraborty, Petitioner herein as the Interim Resolution Profession (IRP) of Era Infra Engineering Pvt Ltd. (EIEL).

6. It is contended that on 31.08.2018, Petitioner preferred a WP. No.9566 of 2019 challenging order dated 19.04.2018 of the Enforcement Directorate freezing bank accounts before this Hon''ble Court to which the Bank was not a party. On 04.10.2018, the Adjudicating Authority under Prevention of Money Laundering Act, 2002 passed an order exercising powers under section 102 of Cr. PC and directed that bank accounts be remain frozen.

7. On 07.10.2019, Enforcement Directorate passed a Provisional Attachment Order under Section 5(1) of the PMLA provisionally attaching 49 bank accounts of EIEL including the account numbered 913020056551881 being maintained with Axis Bank.

8. It is contended that after the subject order dated 14.11.2019, on 17.03.2020, the Adjudicating Authority under PMLA passed an order confirming the Provisional Attachment Order dated 07.10.2019. At the time of attachment, balance in the said account was INR 80,64,056.49 (Rupees Eighty Lakhs Sixty Four Thousand Fifty Six and Forty Nine Paisa only). It is contended that the Provisional Attachment Order dated 07.10.2019 was challenged by the Petitioner before the National Company Law Tribunal, Principal Bench, New Delhi by an application, which is still pending.

9. It is contended that on 21.05.2020, the Income Tax Authorities credited an amount of INR 19,22,11,330 as income tax refund pertaining to assessment year 2015-16 in the subject bank account.

10. On 27.05.2020, the Enforcement Directorate directed the Nodal Officer, Axis Bank to immediately transfer and credit the attached amount in four different accounts including the account in question to the Directorate of Enforcement.

11. On 15.06.2020, the Respondents wrote to the Petitioner informing him about the receipt of letter dated 27.05.2020 from Enforcement Directorate and requested him to take up the matter with the concerned authority.

12. On 16.06.2020, Petitioner wrote back to the Axis Bank, Noida Branch intimating that they have challenged the provisional attachment order dated 07.10.2019 before the National Company Law Tribunal, and the application was pending. Petitioner requested the Respondents to desist from taking any steps for transfer of the funds lying in the accounts without their specific instructions.

13. On 22.06.2020, the Enforcement Directorate again wrote to the Bank and directed the Bank to immediately transfer and credit the attached amount to the Directorate of Enforcement.

14. It is contended that on 26.06.2020, the respondent Bank remitted the amoun